USD/CHF - Dollar Swiss Franc, American Session - 13/05/09

By IBT Staff Reporter On 05/13/09 AT 5:24 AM

1,1047. USD CHF is in an downtrend directed by 1H exponential moving averages. USD CHF is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 1,1070 (23 pips). The downtrend should continue to gather momentum.